Stop IDBI’s privatisation, Kejriwal writes to PM

A day after IDBI officials met him, Delhi Chief Minister Arvind Kejriwal on Saturday wrote to Prime Minister Narendra Modi opposing the bank’s proposed privatisation saying the Centre’s logic was “riddled with flaws”. Kejriwal said: “I request you to stop the privatisation of IDBI, let the banks recover dues from big industrialists and take strong action against people like (Vijay) Mallya.” He stated that the Non Performing Assets (NPAs) of IDBI are mainly dues recoverable from big industrial houses and urged the Centre to give a free hand to the officials of the bank to act against those companies and industrialists like Mallya. “It is very unfortunate that the government, instead of acting strongly against people like Mallya, is letting them flee the country. There must be so many industrialists who have taken money from the banks. The government, on one hand, is stopping the banks from recovering the money while it is selling their shares towards privatising them,” CM wrote.